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the currency slid to 60.40 rupees to the dollar, close to its record low of 61.21 rupees hit earlier this month.

“The RBI has done everything to defend the rupee—but it did not hike rates,”

Business leaders and Finance Minister P. Chidambaram have been pushing for cheaper borrowing rates to boost growth,

push up the cost of imports, drive up already stubbornly high consumer price inflation and risk a widening of the current account deficit, which hit a record 4.8 percent of gross domestic product last year.

Earlier th

is month, the central bank raised two short-term lending rates to support the rupee, which is the worst-performing currency among major Asian nations.

India’s economic woes have led to increased speculation that it could be headed for an economic crisis of the sort it suffered in 1991, which forced a bailout by the International Monetary Fund.

“I feel shaky. Now there is a 10-20 percent chance that we might see 1991 again

"The public, as well as investors, will benefit from a financially strong industry which can now invest to keep its product updated and in international markets competitive with foreign carriers."

Despite high demand for the redesigned sports car, GM will not add a second shift

"We've seen this again and again. You bring out a new Corvette and the demand is sky-high at the beginning, and then it tapers off,"

"It's not worth making that investment [of a second shift], even though for awhile we make a lot more money getting those cars out there."

GM produced 14,960 Corvettes in 2012 in the car's lone plant. If GM sticks to its current production plan for the redesigned 2014 model, output will nearly double to about 30,000 units for a full year.

GM has banked enough orders from dealers to keep the plant cranking out cars at 160 per day for at least the next six months.

A greater number of exports will reduce the number of cars available in the United States.

First, GM plans to offer the redesigned Corvette in nearly all 140 countries that sell Chevrolets.

GM spent $131 million to retool the Corvette plant to assemble the 2014 model, which uses a new frame, body and suspension.

Cyber Monday solution?

But if US consumers are unwilling to part with their dollars, international brands may take comfort in the increasingly global nature of Black Friday.

One beacon of hope for nervous retailers is that US consumers have spent more on online shopping than ever before.

a statement

Cyber Monday became the biggest US online shopping day of the year in 2011

Shoppers in Russia, South Korea, China, Germany and Sweden were the biggest spenders.

The so-called core CPI, which strips out the volatile energy and food components, also rose 0.2 per cent in March after edging up 0.1 per cent the prior month.

In the 12 months through March, the core CPI advanced 1.7 per cent after rising 1.6 per cent in February.

The Fed targets 2 per cent inflation and it tracks an index that is running even lower than the CPI. The rise last month could ease concerns among some policymakers about inflation being too low.

In March, food prices increased 0.4 per cent after rising by the same margin in February. A drought in the West has pushe

In March, food prices increased 0.4 per cent after rising by the same margin in February. A drought in the West has pushed up prices for meat, dairy, fruit and vegetables.

More price increases could be on the way after food prices at the factory gate posted their biggest gain in 10 months in March. Gasoline prices fell 1.7 per cent, declining for a third straight month.

Within the core CPI, shelter costs increased 0.3 per cent, which accounted for almost two-thirds of the rise in the index. Rents increased 0.3 per cent.There were also increases in medical care, apparel, used cars and trucks, airline fares and tobacco. The cost of recreation, and household furnishings fell.

the growing economy is helping record numbers of people to find a job

The rise in employment is being fuelled by businesses and entrepreneurs across the country who are feeling increasingly confident with the improving economy

long-term economic plan is working

while youth unemployment had gone down, the rate was "still nearly three times the rate of unemployment as a whole

rise in employment was down to the increase in the number of self-employed

pensions secretary Rachel Reeves disagreed, saying "long-term youth unemployment has doubled

Earnings "remain below inflation"

North East of England has the highest unemployment rate in the UK, at 9.5%

South East, where the rate is lowest, only 5.2%

MPC members voted earlier this month to keep interest rates at 0.5%

The thinktank expects the unemployment rate to have dropped to 7% in the three months to February

This week's official data may show that the squeeze on real pay is now over.

"That said, falling real incomes didn't get in the way of robust consumer spending growth over the last year. Household spending growth outpaced income growth as consumers saved less (or borrowed more)

"Earnings growth moving above consumer price inflation would also be a very welcome development for the government given Labour's focus on the cost of living.

Philip Shaw, economist at Investec, expects CPI to come in at 1.5%, which would be the lowest rate since October 2009, and he forecasts it will stay relatively low.

However we are keeping an eye on wholesale food prices – note that wheat prices (in sterling terms) are up 9.5% so far this year, while corn is 17% higher," he said.

It is currently at its record-low of 0.5%

Bank's ultra-loose monetary policy to keep markets liquid and the cost of credit down, therefore boosting the economy by supporting lending to businesses and consumers.

mortgage lending is on the rise again off the back of cheap credit made available

These mortgages are being taken out at a time of low interest rates, leaving borrowers exposed to higher repayment costs when the Bank of England lifts its base rate – and runs the risk of a wave of defaults.

London that will faces the biggest threat from interest rate rises because house prices in the city have soared.

house price in London leapt by 18.2%

The first quarter

revealed that youth unemployment had soared even higher, with 43% of the under 25s who are not studying now unable to find work.

"It is a dramatic and brutal increase," said Helena Pinto,

a leap in emigration by people desperate to find work.

Portugal's economy is expected to shed yet more jobs and shrink by a further 2.3% this year,

bidding of the troika of lenders who keep it afloat - the International Monetary Fund, the European Central Bank and the European Commission.

government forces ever-deeper austerity

Portugal has now been in recession for almost three years

sack one in twenty public employees,

he would cut another €4.8bn spending over the next three years is expected to harm short-term growth further.

Passos Coelho's announcement

increase civil service working week from 35 to 40 hours

raise the retirement age by a year to 66

austerity has so far failed

could have sold three times as much debt this week

increased last year from 4.4% of GDP to 6.4%.

country's constitutional court threw out €5.8bn in cuts to

civil service pay and sickness benefits.

the government selling ten year bonds

raising €3bn

taming the country's budget deficit

potential recovery in a country which needed €78bn of bailout money to escape bankruptcy

fail to spark growth

raising hopes that Portugal could wean itself off aid next year.

The government forecasts a third straight year of recession

unemployment rising to 18.5%

austerity

other southern European countries

5.7% interest

signs of softening

the troika

extended the repayment period for Portugal's bailout loans

seven years